This blog publishes market news relating to the companies listed in Bursa Malaysia, as well as business news in general. You can search and find all the past market and business news by searching within this Blog.

Monday, October 17, 2011

Ingress Corp's Ayuththaya plant hit by flood

KUALA LUMPUR: INGRESS CORPORATION BHD []'s factory in Ayuththaya, which mainly supplies components to Honda in Thailand, has been flooded since Oct 14, said the company.

In a filing Monday, Oct 17, Ingress said its two other factories in Thailand located in Rayong's Eastern Seaboard, however, remain in operations.

It said Honda's Ayutthaya factory itself was badly affected.

Ingress said it had taken precautionary steps, before the flooding, to move finished goods and work-in-progress stocks as well as raw materials to its Rayong plant.

Additionally, the plant's property, machinery and equipment are covered by insurance, it said.

'We are monitoring the situation closely, although it is difficult, at this time to estimate, the damage as well as the recovery time.

'We will provide further updates on the situation when there is relevant information and significant development on the crisis,' it said.